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Gold extends decline below $1,500 as Fed meeting looms


Tuesday, 29 October 2019 20:03 WIB

GOLDEMASPalladiumSILVER


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Gold edged lower Tuesday, a day after slipping back below the psychologically important level of $1,500 an ounce.

Gold for December delivery on Comex fell $4.80, or 0.3%, to $1,491 an ounce, while December silver declined 18.6 cents, or 1%, to $17.69 an ounce.

Attention is on the Federal Reserve, which begins a two-day meeting on Tuesday. The central bank is widely expected to announce a quarter percentage point interest rate rate cut when the meeting concludes Wednesday, with investors focusing on clues to policy makers' appetite for further easing in the months and year ahead.

In other metals trade, December palladium fell 1.1% to $1,760.40 an ounce, while January platinum was up less than 0.1% at $919.30 an ounce.

Source : MarketWatch


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